Patrik Brummer’s Zenit Asset Management has filed its 13F for the reporting period of June 30, and among other notable activity in his portfolio the investment manager has replaced Apple Inc (NASDAQ:AAPL) with other tech stock picks. According to the filing, Google Inc (NASDAQ:GOOG), Alibaba Group Holding Ltd (NYSE:BABA), and Yahoo! Inc. (NASDAQ:YHOO) are the now the top tech stock investments of the fund manager, while his Apple holding was sold off. Brummer has reported a public equity portfolio valued at $647.56 million as of the end of the second quarter with technology and finance being the two sectors to get the majority of his investing capital, at 56% and 32% respectively. The investment manager added 13 new stocks to his portfolio while selling positions in 15 stocks, including Amazon.com, Inc (NASDAQ:AMZN) and the aforementioned Apple Inc (NASDAQ:AAPL). Brummer’s position in the iPhone maker at the end of the first quarter included 231,888 shares valued at $28.99 million, his fifth most valuable position as of March 31. In Amazon.com, Inc (NASDAQ:AMZN), Brummer’s top position on March 31, he held 237,500 shares at that time, valued at $88.91 million. His sell off of Amazon.com, Inc (NASDAQ:AMZN) appears to have been a hasty one, as shares have gained another 13% in July. On the other hand, one can’t argue with the performance of his new top pick, Google. Let’s check out the latest action surrounding his top picks.
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We don’t just track the latest moves of funds. We are, in fact, more interested in their 13F filings, which we use to determine the top 15 small-cap stocks held by the funds we track. We gather and share this information based on 16 years of research, with backtests for the period between 1999 and 2012 and forward testing for the last 2.5 years. The results of our analysis show that these 15 most popular small-cap picks have a great potential to outperform the market, beating the S&P 500 Total Return Index by nearly one percentage point per month in backtests. Moreover, since the beginning of forward testing in August 2012, the strategy worked brilliantly, outperforming the market every year and returning 139%, which is more than 80 percentage points higher than the returns of the S&P 500 ETF (SPY) (see more details).
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At the end of the second quarter, Zenit Asset Management had 235,752 Class C common shares of Google Inc (NASDAQ:GOOG) in its portfolio, with a market value of $123.51 million. The investment manager increased its investments in the search engine company by 123% during the second quarter, adding 130,172 shares. The shares of the search giant are up by nearly 30% in July after a monster July 17 during which they gained just under $100 in value on a single day. Aide from its latest earnings report, Google is ready to bring back the second version of Google Glass, dubbed GG1, with improved features and larger size. The new version of Google Glass, “Enterprise Edition,” is likely to have a larger prism powered by an Intel Atom processor with additional battery pack. The first edition of the eyewear received mixed reactions from the market and the technology firm plans to upgrade the device with this version. Andreas Halvorsen’s Viking Global was among the primary investors of Google Inc at the end of the first quarter, owning 1.64 million Class A shares valued at $908.85 million. According to our records, 12 billionaires had investments in Google Inc at the end of the first quarter.
Alibaba Group Holding Ltd (NYSE:BABA) is now the second-most valuable position in the equity portfolio of the fund manager, consisting of 907,500 shares valued at $74.65 million. The stake in the e-commerce firm accounts for 11.53% of the overall portfolio value of the fund manager. The Chinese e-commerce giant is known for exploring new markets and its rapid expansion tactics. In its latest investment spree, Alibaba Group has invested in one of China’s leading flash sales platforms, Mei.com, which offers luxury fashion products. The online retailer is forming alliances and partnerships to bring down its delivery costs. Alibaba Group Holding Ltd (NYSE:BABA) has an ownership of 14.51% in Singapore Post Limited and the company is planning to invest $206.85 million in SingPost in a new joint venture, which is aimed towards trimming its transportation costs. Alibaba was one of the preferred investment choices of billionaires, with 15 billionaires in our database holding positions in the company at the end of the first quarter. Alibaba’s shares are down by nearly 20% this year, but are up slightly this month. Rob Citrone of Discovery Capital Management was one of the primary shareholders of the firm at the end of the first quarter, holding 8.77 million shares worth $730.36 million.
Yahoo! Inc. (NASDAQ:YHOO) comes in at number three in the equity portfolio of Zenit Asset Management, with a position worth $50.75 million in 1.29 million shares of the tech company, the position increased by 9% in the second quarter. The shares of the struggling company are down by 21.14% year-to-date, but like Alibaba, to which its shares have been closely tied since that company’s IPO, Yahoo’s shares are up slightly in July. Yahoo announced the spin-off of its stake in Alibaba earlier this year and it is likely to fetch $15 billion before taxes. The company is looking for the best ways to save tax dollars on the sale of its 15% stake in Alibaba Group. Yahoo! Inc. (NASDAQ:YHOO) is trying to regain momentum with a series of acquisitions including Tumblr, Brightroll, and Flurry. These acquisitions will help Yahoo broaden its revenue streams and the company expects to generate revenues of $100 million from Tumblr by the end of 2015. Daniel S. Och of OZ Management was the largest stockholder of the company in our database at the end of the first quarter, holding 14.65 million shares valued at $650.88 million. Yahoo was in the equity portfolio of 15 billionaires that we track as of the end of the first quarter.
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